PhotonVentures raises €60M fund for European photonics startups.
PhotonVentures raises €60M fund for European photonics startups.
PhotonVentures Raises €60mn to Stimulate Europe’s Photonics Industry
In a move to bolster Europe’s photonics industry, Dutch venture capital firm PhotonVentures has successfully raised €60mn for its new fund. The capital injection will specifically target startups and scaleups working on photonic chips, a crucial technology for a wide range of applications, including robotics, quantum computing, and autonomous vehicles.
PhotonVentures aims to provide support and investment to companies that demonstrate international growth potential and have an integrated photonics-based Minimum Viable Product (MVP) connected to the European ecosystem. The initial plan is to invest in 15 early-stage companies, primarily focusing on Series A funding rounds. Investments will range from €1mn to €2.5mn, allowing these companies to accelerate their development and expand their market presence.
Joachim de Sterke, General Partner at PhotonVentures, emphasized the significance of investment and backing for promising companies in the field. He highlighted that PhotonVentures is the only fund directly targeting photonic chip startups and scaleups, with the aim of establishing Europe as a global leader in integrated photonics.
“We want to play an instrumental role in making Europe a global powerhouse in the field of integrated photonics,” de Sterke stated confidently.
It’s worth noting that PhotonVentures is a spinoff and strategic partner of PhotonDelta, a leading photonic chip manufacturer and ecosystem builder for the integrated photonics industry in Europe. PhotonDelta recently secured a substantial amount of public and private investments amounting to €1.1bn in 2022. The funding is set to be utilized in various ways, including the establishment of 200 startups, the development of new applications for photonic chips, the expansion of production capabilities, and the nurturing of talent and infrastructure. PhotonDelta also serves as the primary investor behind PhotonVentures’ newly-raised fund.
This recent development not only underscores the growing importance of photonic chips but also highlights the potential Europe holds in leading the way in this cutting-edge industry. With PhotonVentures’ investment, European startups and scaleups in the field of integrated photonics can now look forward to enhanced support and resources that will aid in their journey towards innovation and success.
